Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Position Reduced by Wellington Management Group LLP

Wellington Management Group LLP lessened its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 8.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,165,424 shares of the biopharmaceutical company's stock after selling 390,743 shares during the period. Wellington Management Group LLP owned approximately 4.51% of Ultragenyx Pharmaceutical worth $231,389,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Alkeon Capital Management LLC boosted its position in Ultragenyx Pharmaceutical by 34.3% in the 3rd quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company's stock valued at $167,301,000 after buying an additional 769,884 shares during the period. Federated Hermes Inc. boosted its position in Ultragenyx Pharmaceutical by 8.7% in the 2nd quarter. Federated Hermes Inc. now owns 2,107,025 shares of the biopharmaceutical company's stock valued at $86,599,000 after buying an additional 168,345 shares during the period. Millennium Management LLC boosted its position in Ultragenyx Pharmaceutical by 103.8% in the 2nd quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company's stock valued at $76,065,000 after buying an additional 942,529 shares during the period. Baker BROS. Advisors LP boosted its position in Ultragenyx Pharmaceutical by 7.5% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,576,114 shares of the biopharmaceutical company's stock valued at $87,553,000 after buying an additional 109,567 shares during the period. Finally, Marshall Wace LLP boosted its position in Ultragenyx Pharmaceutical by 16.9% in the 2nd quarter. Marshall Wace LLP now owns 1,133,100 shares of the biopharmaceutical company's stock valued at $46,570,000 after buying an additional 164,110 shares during the period. Hedge funds and other institutional investors own 97.67% of the company's stock.

Wall Street Analysts Forecast Growth

RARE has been the subject of several recent analyst reports. Canaccord Genuity Group reaffirmed a "buy" rating and set a $121.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, November 12th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. TD Cowen lifted their price objective on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. JPMorgan Chase & Co. decreased their price objective on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an "overweight" rating for the company in a research report on Thursday, November 21st. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $87.46.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, CFO Howard Horn sold 7,465 shares of the stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total value of $393,853.40. Following the completion of the sale, the chief financial officer now owns 92,301 shares of the company's stock, valued at $4,869,800.76. This represents a 7.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.80% of the company's stock.

Ultragenyx Pharmaceutical Stock Performance

RARE stock traded down $0.06 on Monday, hitting $49.32. 779,745 shares of the company were exchanged, compared to its average volume of 774,903. Ultragenyx Pharmaceutical Inc. has a twelve month low of $37.02 and a twelve month high of $60.37. The business's fifty day moving average is $51.17 and its two-hundred day moving average is $48.93.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) EPS for the quarter, topping the consensus estimate of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The firm had revenue of $139.49 million during the quarter, compared to analyst estimates of $135.28 million. During the same quarter in the prior year, the business posted ($2.23) earnings per share. Ultragenyx Pharmaceutical's revenue for the quarter was up 42.3% compared to the same quarter last year. Sell-side analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -6.2 EPS for the current year.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases in North America, Latin America, Japan, Europe, and internationally. Its biologic products include Crysvita (burosumab), an antibody targeting fibroblast growth factor 23 for the treatment of X-linked hypophosphatemia, as well as tumor-induced osteomalacia; Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII; Dojolvi for treating long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia.